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122.50 Marks Today's Bull Trigger....>

EURO-YEN TECHS
EURO-YEN TECHS: 122.50 Marks Today's Bull Trigger
*RES 4: 124.12 High Jun 8
*RES 3: 123.93 2.0% 10-dma envelope
*RES 2: 123.22 76.4% retracement of the Jun 5 - 22 downleg
*RES 1: 122.50 High Jul 15/16 and intraday bull trigger
*PRICE: 122.03 @ 06:12 BST Jul 17
*SUP 1: 121.47 Low Jul 14
*SUP 2: 120.70 Low Jul 13
*SUP 3: 120.26/27 Low Jul 1/10 and key S/T support
*SUP 4: 119.81 Low Jun 26
EURJPY stalled again at 122.50 Thursday, clearly marking a key intraday hurdle
for bulls. The cross maintains a bullish focus following this week's breach of
former key near-term resistance at 121.97, Jul 6, 9 and 13 high. The current
bullish theme follows the recent recovery off 120.27, Jul 10 low that reversed
the correction between Jul 6 - 10. Attention is on the next objective at 123.22,
a Fibonacci retracement. Initial support lies at Tuesday's low of 121.47.

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